XML 38 R27.htm IDEA: XBRL DOCUMENT
v3.20.2

RELATED PARTY TRANSACTIONS | 9 Months Ended
--- | ---
Sep. 30, 2020
RELATED PARTY TRANSACTIONS |
RELATED PARTY TRANSACTIONS | 19. RELATED PARTY TRANSACTIONS ​ TCCC controls approximately 19.3% of the voting interests of the Company. The TCCC Subsidiaries, the TCCC Related Parties and certain TCCC independent bottlers/distributors, purchase and distribute the Company’s products in domestic and certain international markets. The Company also pays TCCC a commission based on certain sales within the TCCC distribution network. ​ TCCC commissions, based on sales to the TCCC Subsidiaries and the TCCC Related Parties, were $15.7 million and $11.6 million for the three-months ended September 30, 2020 and 2019, respectively, and are included as a reduction to net sales. TCCC commissions, based on sales to the TCCC Subsidiaries and the TCCC Related Parties, were $37.7 million and $39.5 million for the nine-months ended September 30, 2020 and 2019, respectively, and are included as a reduction to net sales. ​ TCCC commissions, based on sales to certain TCCC independent bottlers/distributors, were $5.5 million and $4.7 million for the three-months ended September 30, 2020 and 2019, respectively, and are included in operating expenses. TCCC commissions, based on sales to certain TCCC independent bottlers/distributors, were $15.2 million and $13.6 million for the nine-months ended September 30, 2020 and 2019, respectively, and are included in operating expenses. ​ Net sales to the TCCC Subsidiaries for the three-months ended September 30, 2020 and 2019 were $21.5 million and $21.0 million, respectively. Net sales to the TCCC Subsidiaries for the nine-months ended September 30, 2020 and 2019 were $55.2 million and $59.5 million, respectively. ​ The Company also purchases concentrates from TCCC which are then sold to certain of the Company’s bottlers/distributors. Concentrate purchases from TCCC were $6.8 million and $6.3 million for the three-months ended September 30, 2020 and 2019, respectively. Concentrate purchases from TCCC were $17.6 million and $20.2 million for the nine-months ended September 30, 2020 and 2019, respectively. ​ Certain TCCC Subsidiaries also contract manufacture certain of the Company’s energy drinks. Such contract manufacturing expenses were $5.1 million and $4.2 million for the three- months ended September 30, 2020 and 2019, respectively. Such contract manufacturing expenses were $11.3 million and $13.1 million for the nine-months ended September 30, 2020 and 2019, respectively. ​ Accounts receivable, accounts payable, accrued promotional allowances and accrued liabilities related to the TCCC Subsidiaries are as follows at: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31,
​ |  | 2020 |  | 2019
Accounts receivable, net | ​ | $ | 47,552 | ​ | $ | 21,670
Accounts payable | ​ | $ | (25,832) | ​ | $ | (18,217)
Accrued promotional allowances | ​ | $ | (4,911) | ​ | $ | (5,321)
Accrued liabilities | ​ | $ | (32,615) | ​ | $ | —
​ One director of the Company through certain trusts, and a family member of one director, are principal owners of a company that provides promotional materials to the Company. Expenses incurred with such company in connection with promotional materials purchased during the three-months ended September 30, 2020 and 2019 were $0.4 million and $0.5 million, respectively. Expenses incurred with such company in connection with promotional materials purchased during the nine-months ended September 30, 2020 and 2019 were $1.9 million and $1.1 million, respectively. ​ In December 2018, the Company and a director of the Company entered into a 50-50 partnership that purchased land, and real property thereon, in Kona, Hawaii for the purpose of producing coffee products. The Company’s initial 50% contribution of $1.9 million was accounted for as an equity investment. During the three-months ended September 30, 2020, the Company recorded an equity loss of $0.04 million. During the nine-months ended September 30, 2020, the Company recorded an equity loss of $0.3 million. As of September 30, 2020, the Company’s equity investment is $1.6 million and is included in other assets (non-current) in the accompanying condensed consolidated balance sheet.

X
- References No definition available. + Details
Name: | us-gaap_RelatedPartyTransactionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
Name: | us-gaap_RelatedPartyTransactionsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration